Click on the Google Preview image above to read some pages of this book!

The significant store of knowledge about publicly regulated pensions for old age has grown even more rapidly in the past decade. This book explores current research in four critical areas for pension policy: the political design of pension institutions; the iron links among fiscal deficits, private savings, and pension reform; how macroeconomic policy should be conducted after large private pension funds have emerged; and lessons on efficient organization of the pension industry, drawn from international comparisons including Australia, Chile, Malaysia, and the United Kingdom.

'The ambitious goal of this edited collection is to synthesize many of the lessons learned from previous reforms as well as to summarize the expertise on those issues that is most critical to pension reform: political design of pension policy, fiscal deficits and private savings in pension reform, and the macroeconomic effects of pensions. An introductory chapter provides a nice overview of the key issues, and as a whole the quality of contributions is quite high. Thus, this book is an excellent resource of policy-makers and specialists ... a good way of becoming acquainted with the area.' Economica

Introduction and overview

The Politics of Mandatory Pensions

Insulation of pensions from political risk

Democracy and pensions in Chile experience with two systems

Public pension governance and performance

Fiscal Deficits and Private Saving in Pension Reform

Pension reform and growth Gian

Pension reforms in the presence of credit constraints

Financing a pension reform towards private funded pensions

Macroeconomic Policy and Private Pensions

Pension funds, capital controls, and macroeconomic stability

Are there (good) macroeconomic reasons for limiting external investments by pension funds? The Chilean experience

Regulation of Privately-Managed Pension Systems

Pension choice and pensions policy in the United Kingdom

Mandatory retirement saving Australia and Malaysia compared

Conclusion public pension plans in international perspective problems, reforms and research issues